3M Co. (NYSE: MMM)’s stock price has gone rise by 0.69 in comparison to its previous close of 133.84, however, the company has experienced a 1.19% increase in its stock price over the last five trading days. prnewswire.com reported 2024-09-18 that 3M’s docuseries debuts at Fast Company Innovation Festival ahead of New York Climate Week Collaboration with Work on Climate will address the critical need for more green talent and provide resources for professionals 3M to emphasize importance of inspiring the workforce, closing the skills gap and developing a green economy talent pipeline during New York Climate Week events ST. PAUL, Minn.
Is It Worth Investing in 3M Co. (NYSE: MMM) Right Now?
The price-to-earnings ratio for 3M Co. (NYSE: MMM) is 79.69x, which is above its average ratio. Moreover, the 36-month beta value for MMM is 0.93. Analysts have varying opinions on the stock, with 1 analysts rating it as a “buy,” 4 as “overweight,” 7 as “hold,” and 3 as “sell.”
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The public float for MMM is 548.85M and currently, short sellers hold a 1.44% of that float. On September 23, 2024, MMM’s average trading volume was 4.17M shares.
MMM’s Market Performance
MMM stock saw an increase of 1.19% in the past week, with a monthly gain of 4.29% and a quarterly increase of 31.62%. The volatility ratio for the week is 1.55%, and the volatility levels for the last 30 days are 1.74% for 3M Co. (MMM). The simple moving average for the last 20 days is 2.33% for MMM’s stock, with a simple moving average of 36.48% for the last 200 days.
Analysts’ Opinion of MMM
Many brokerage firms have already submitted their reports for MMM stocks, with Morgan Stanley repeating the rating for MMM by listing it as a “Underweight.” The predicted price for MMM in the upcoming period, according to Morgan Stanley is $125 based on the research report published on September 06, 2024 of the current year 2024.
Argus, on the other hand, stated in their research note that they expect to see MMM reach a price target of $145. The rating they have provided for MMM stocks is “Buy” according to the report published on July 30th, 2024.
Deutsche Bank gave a rating of “Buy” to MMM, setting the target price at $150 in the report published on July 29th of the current year.
MMM Trading at 9.23% from the 50-Day Moving Average
After a stumble in the market that brought MMM to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -0.41% of loss for the given period.
Volatility was left at 1.74%, however, over the last 30 days, the volatility rate increased by 1.55%, as shares surge +4.80% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +30.55% upper at present.
During the last 5 trading sessions, MMM rose by +1.19%, which changed the moving average for the period of 200-days by +56.35% in comparison to the 20-day moving average, which settled at $132.01. In addition, 3M Co. saw 47.45% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at MMM starting from Patolawala Monish D, who proposed sale 14,981 shares at the price of $129.98 back on Aug 21 ’24. After this action, Patolawala Monish D now owns shares of 3M Co., valued at $1,947,230 using the latest closing price.
Patolawala Monish D, the Former Officer of 3M Co., proposed sale 10,000 shares at $126.85 during a trade that took place back on Aug 20 ’24, which means that Patolawala Monish D is holding shares at $1,268,500 based on the most recent closing price.
Stock Fundamentals for MMM
Current profitability levels for the company are sitting at:
- 0.04 for the present operating margin
- 0.44 for the gross margin
The net margin for 3M Co. stands at 0.03. The total capital return value is set at 0.05. Equity return is now at value 17.11, with 2.17 for asset returns.
Based on 3M Co. (MMM), the company’s capital structure generated 0.77 points at debt to capital in total, while cash flow to debt ratio is standing at 0.43. The debt to equity ratio resting at 3.38. The interest coverage ratio of the stock is 0.99.
Currently, EBITDA for the company is -6.79 billion with net debt to EBITDA at 1.29. When we switch over and look at the enterprise to sales, we see a ratio of 2.54. The receivables turnover for the company is 8.55for trailing twelve months and the total asset turnover is 0.71. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.36.
Conclusion
To wrap up, the performance of 3M Co. (MMM) has been better in recent times. The stock has received a mixed of “buy” and “hold” ratings from analysts. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
